Financial development in Nigeria impacts money supply stability and economic growth.
The article examines how changes in the Nigerian economy have affected the demand for money. By analyzing data from 1991 to 2018, the researchers found that financial development has a significant impact on money demand. They used statistical methods to show that factors like currency in circulation and credits to the private sector influence the amount of money people want to hold. The study suggests that the government should focus on improving financial development and coordinating fiscal and monetary policies to ensure stability in the economy.